With Brexit inching closer every day and a no-deal Brexit becoming more likely, the British Pound has sold-off severely. Price action in the GBPUSD is now approaching a key support area with the lower band being the intra-day low of the post Brexit referendum results sell-off. Today’s UK employment data is expected to show solid employment gains as well as rising wages. Will this boost the British Pound off of strong support levels and allow for a short-covering rally in the GBPUSD? Follow the PaxForex Daily Fundamental Analysis and earn more pips per trade!

As the US Federal Reserve is now expected to slash interest rates further, inflation data will gain more importance. Fed officials have noted the absence of inflation as a reason adjust monetary policy. Some analysts start to call for interest rates to drop back down to 0.00% as the US-China trade war intensifies. The US Dollar is under mounting pressure which is likely to force a steep sell-off, should forex traders start preparing their accounts? Today’s CPI data is likely to confirm that inflation, for the time being, remains tame. Is now a good time to buy the GBPUSD? Today’s fundamental analysis will take a look at where price action may be headed next.